Released on 4 April 2014
Figures released today by the Finance & Leasing Association (FLA) show that asset finance new business was up by 12% in February 2014, compared with the same month last year.
Growth was broad-based and evident across a number of key asset sectors, with plant and machinery finance up 36%, business equipment finance up 14% and commercial vehicle finance seeing a rise of 22%.
Commenting, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said:
“These figures are a very encouraging indicator of a more balanced economic recovery and illustrate the important role that the asset finance industry is playing in ensuring the recovery is sustainable.”
|
Feb 2014 |
% change on Feb 2013 |
3 months to Feb 2014 |
% change on prev. year |
12 months to Feb 2014 |
% change on prev. year |
|
| Total FLA asset finance (£m) |
1,636 |
+12 |
5,551 |
+19 |
22,715 |
+5 |
| Total leasing and hire purchase excluding high value (£m) |
1,591 |
+9 |
5,467 |
+17 |
21,978 |
+5 |
| Data Extracts: | ||||||
| Plant and machinery finance (£m) |
417 |
+36 |
1,145 |
+25 |
4,624 |
+9 |
| Commercial vehicle finance (£m) |
395 |
+22 |
1,437 |
+41 |
5,355 |
+15 |
| IT equipment finance (£m) |
94 |
-4 |
419 |
+15 |
1,540 |
+12 |
| Business equipment finance (£m) |
147 |
+14 |
487 |
+15 |
1,979 |
+8 |
| Car finance (£m) |
411 |
-4 |
1,484 |
+3 |
6,690 |
-2 |
| Aircraft, ships and rolling stock finance (£m) |
26 |
-34 |
65 |
-1 |
284 |
-39 |
Note to editors:
- In 2013 FLA members provided £88.3 billion of new finance to UK businesses and households. £22.4 billion of finance was provided to businesses and the public sector, representing around 30% of all fixed capital investment (excluding real property and own-account software) in the UK last year.
Witten by Jason Bailey on